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Albania

Alessandro_Pasut_4Albania: small businesses keep the economy alive.


Those businesses which employ only between 1-4 people are an added value for the Albanian economy in general.
The Albanian Institute of Statistics says that such businesses make up for 89.3% of all businesses in the Country and at the same time realize 14.3% of the total number of sales.
This situation is explained by the tax facilities given to small business that employs one to four people and which individually declares a low level of turnover, although these small businesses have the highest level of turnover. They are Such businesses include coffee shops, pizza restaurants, betting points, etc which do not request high initial investment.
In Albania out of a total of 104.534 businesses 93.376 employ 1-4 people.
Out of 104.534 businesses active in the country during 2015, 93.376 of them employed 1-4 people. A significant level compared to 1.031 businesses that employ more than 50 people or 4300 businesses that employ 10-49 people.
The number of private enterprises offering services in Albania is growing and occupies 20,8% of the growth’s level.
In terms of the number of businesses, the highest number belongs to the trading sector, namely 43.1%, followed by hotels and restaurants with 17.8%. The trade sector also has the highest level of net sales, namely 48.3% of the total and the highest level of employment, 25.7% of the total in 2015.
(Source: I. B. N. A.)

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Albania

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Exporters in Albania will be refunded VAT


On June 21st, 2016 the Albanian government has approved the decision to make an automatic refund of the VAT within one month for all businesses which are 50% export companies. Before this benefit was only for this was only for those businesses which dealt 100% with exports.
The minister Mr. Ahmetaj explained that such operation removes the obstacles to get the benefit for those businesses which are 50% export companies.
Due to this big change from now on the number of businesses that benefit is 1050 or 40% of the total.
This has been one of the main requests that exports have had for years. Ahmetaj said that this facilitation will firmly help both the Albanian exports and the export of Albanian goods.

 

 

 

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Albania: annual inflation

Prime Minister Edi Rama says that clear signs of the improvement of the situation are coming. “In little less than 300 days, we have given the right messages and signals, but this is only the start and we must not forget this”, says he.
Two days ago, the Steering Committee of the Bank of Albania declared that the economy is gradually growing during the year, doing slightly better in the second half. Nevertheless, the increase of aggregate demand will remain under the potential of economy even during 2014, thus defining a gradual turn of inflation toward the objective. The Steering Committee decided to keep the base interest rate unchanged at 2.50%.

Governor of the central bank, Ardian Fullani says that annual inflation saw a slight fall at the end of May.
According to Fullani, the data on the month of June indicate that consumption and investments haven’t changes, while budgetary expenses were 7.5% lower than a year ago.
Exports in April went up by 10%, while lending for the private sector in the same month was 2.4% lower than a year ago.

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